Photo: ReutersGeneva: Nestle SA chief executive officer Mark Schneider made his biggest acquisition yet, agreeing to buy Canadian dietary supplements maker Atrium Innovations for $2.3 billion in a bid for growth beyond stagnating mainstream food brands. The world’s biggest food company is acquiring Westmount, Quebec-based Atrium from an investor group led by Permira Funds, Nestle said in a statement Tuesday. Investors have speculated Nestle might buy the consumer health units of Pfizer Inc. or Merck KGaA, or possibly organic food maker Hain Celestial Group Inc., Cox said. Behar said in 2015 that Nestle Health Science could eventually achieve sales of 10 billion Swiss francs ($10.1 billion). Permira bought 75% of Atrium in 2014 in a deal that valued the entire company, including debt, at about $1.1 billion.

Source: Mint December 06, 2017 05:37 UTC